Seoul Semiconductor, a specialized optoelectronics company, has maintained stable growth and narrowed its market share gap with Germany’s ams OSRAM, the second-largest company in the global light-emitting diode (LED) market, to just 1 percentage point.

According to Omdia’s 2024 Global LED Market Share Rankings released on May 12, the global top two companies, Japan’s Nichia and Osram, both experienced significant sales declines. Last year, Nichia and Osram’s sales decreased by 16% and 27% respectively compared to the previous year. Their market shares also fell by 1.8 percentage points and 2.4 percentage points respectively. In contrast, Seoul Semiconductor’s sales and market share improved by 0.3% and 0.1 percentage points.

Seoul Semiconductor’s differentiated performance is attributed to investing more than 10% of its sales in research and development (R&D) amid continued global economic uncertainty. Currently, Seoul Semiconductor holds over 18,000 patents and possesses the “No-wire” technology, which is core to micro LED displays. Recently, the company further solidified its position in No-wire technology through a patent victory at the Unified Patent Court (UPC) in Europe. According to Omdia, the micro LED sector is emerging as a key area of future display technology and is expected to grow into a market of approximately 100 trillion won by 2040.

Seoul Semiconductor is the world’s third-largest global optoelectronics company that has been dedicated solely to LEDs for 30 years. Under the vision of “Making the world clean, healthy, and beautiful with light,” Seoul Semiconductor and its subsidiary Seoul Viosys are leading a new paradigm of light with world-first technologies in the fields of lighting, automotive, information technology (IT), micro LED, and sensors respectively.